AN ACT CONCERNING A STATE EARNED INCOME TAX CREDIT.


General Assembly		*Proposed Bill No. 286*
*January Session, 2009*		LCO No. 1474

Referred to Committee on Finance, Revenue and Bonding
Introduced by:
SEN. LOONEY, 11th Dist.

AN ACT CONCERNING A STATE EARNED INCOME TAX CREDIT.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That chapter 229 of the general statutes be amended to create a tax credit for any person who qualifies for the federal earned income tax credit, which would be equal to ten per cent of the federal earned income tax credit for tax year 2010, fifteen per cent for tax year 2011, and twenty per cent for tax years on and after 2012.

Statement of Purpose:

To phase in a state earned income tax credit.